Running a company in the UK means understanding and complying with various legal obligations. One of the most important requirements is identifying your People with Significant Control (PSCs).
What are People with Significant Control?
A Person with Significant Control (PSC) is anyone who owns or exercises control over a company. Often referred to as a “beneficial owner”, a PSC could be you or another individual connected to your business. Every company must identify its PSCs and record specific details about them in a PSC register.
You could have just one PSC or multiple People with Significant Control. If you cannot identify any PSCs, or if your company genuinely has none, you must make a statement in your register to reflect this.
How to Identify People with Significant Control
A person qualifies as a PSC if they meet one or more of the following conditions:
- They hold more than 25% of the company’s shares
- They control more than 25% of the company’s voting rights
- They have the power to appoint or remove the majority of the board of directors
- They exercise significant influence in some other way
To correctly identify PSCs, review your company’s register of members for shareholder information. Check your company’s constitution, including Articles of Association, to confirm an voting rights or director appointment powers.
In some situations, an individual may not hold shares or formal voting rights but still exert “significant influence or control” over the company. This can happen if someone has the power to direct important decisions about the company’s strategy or finances.
New Identity Verification Rules
From 8th April 2025, directors and PSCs have been able to voluntarily verify their identity through Companies House or an Authorised Corporate Service Provider (ACSP). In Autumn 2025, identity verification becomes mandatory for:
- New directors at appointment
- New PSCs when they gain control
- Existing directors and PSCs, with verification required before their company’s next Confirmation Statement date during a transitional 12-month period
From Spring 2026, only identity-verified individuals or ACSPs will be able to file documents with Companies House.
Trusts and Firms
In rare cases, a trust or a firm without legal personality might control a company. If this happens, you must record all the trustees or partners as PSCs. If a trust or firm would meet the PSC criteria if it were an individual, all individuals with control over that trust or firm must be entered into the PSC register.
What Information Must Be Recorded?
For each identified PSC, you must gather and record the following information:
- Full legal name
- Date of birth
- Nationality
- Country or part of the UK where they usually reside
- Service address (for public correspondence)
- Home address (kept private)
- The date they became a PSC
- The date you entered them into your PSC register
- The nature of their control over the company
You must also include the extent of their shareholding or voting rights, categorised as:
- Over 25% and up to 50%
- More than 50% and less than 75%
- 75% or more
Keeping Your PSC Register Up-to-Date
Changes happen in business all the time. If any of your PSC details change, you must:
- Update your internal PSC register within 14 days of the change
- Notify Companies House within a further 14 days
You can submit updates through Companies House’s online portal.
What If You Cannot Identify People with Significant Control?
Sometimes, you might not be able to identify a PSC. In these cases, you must still complete your PSC register. Insert a statement explaining why the information is not available or detail the steps you are taking to find the necessary information.
An incomplete or blank PSC register is not acceptable.
Protecting People with Significant Control’s Information
In certain situations, a PSC may be at risk of harm if their details are publicly disclosed. If a PSC applies for protection, you must record that an application has been made, and the information is protected from public view from the date of the application.
Residential addresses do not appear on the public register unless a PSC uses their home address as their service address, in which case it will appear publicly.
The PSC Register and Public Address
If your company maintains a separate PSC register, it must be available for public inspection at your registered office or a Single Alternative Inspection Location (SAIL) address. However, many companies no longer need to keep a separate register if they file PSC information with Companies House.
Anyone can inspect the register free of charge. If someone requests a copy, you can charge up to £12 per copy. When providing a copy or allowing an inspection, you must ensure that you do not disclose home addresses and any information subject to protection orders.
Non-Compliance
Failure to properly maintain your PSC register or submit accurate information to Companies House is a criminal offense. Consequences can include substantial fines, imprisonment for up to two years or both. Both company officers and the PSCs themselves can face penalties if they fail to comply with the rules.
If a potential PSC refuses to provide the required information, you can place restrictions on their shares or voting rights. This action should be considered only after repeated attempts to obtain the information and should always be proportionate.
Relevant Legal Entities (RLEs)
While PSCs must be individuals, a company or other legal entity can sometimes control another company. When this happens, the legal entity is classified as a Relevant Legal Entity (RLE).
You must record an RLE on the PSC register if it:
- Meets one or more PSC conditions
- Is the first relevant legal entity in the ownership chain
- Is not exempt (e.g. being listed on a UK or a European Economic Area regulated market)
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